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Over-subscriptions have been evident on well-priced US cat treaties. -
The Bermuda based entity is expected to continue on its “responsible growth trajectory”.
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First-time sponsor QBE secured $250mn of quake and storm coverage.
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The broker estimated ILS capital has reached $107bn.
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Some $1.2bn of limit was placed in the cat bond market this week.
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Casualty ILS made inroads, while hurricane hedging strategies came into focus.
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Initial spread guidance for the three-year bond is set at 425-500bps.
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The carrier has raised $75mn of higher-risk Class C coverage.
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The bond offers a higher multiple than a similar Fuchsia Re deal placed last year.
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The reinsurance veteran joins from Artex Risk Solutions.
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Everest is in the process of transforming its ILS offering.
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The Class A and C notes increased in size, while the Class B note remained unchanged.
